MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Insmed, Inc. $INSM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Insmed, Inc. by 4.0%, owning approximately 0.06% of the company, valued at $8,364,000 after purchasing an additional 4,176 shares in the first quarter.
• In the same quarter, multiple institutional investors significantly raised their stakes in Insmed, including Cullen Frost Bankers with a 164.9% increase, and Versant Capital Management with a 546.3% increase.
• Insmed's revenue for the last quarter was $107.42 million, beating estimates, although it reported a loss of ($1.70) earnings per share, missing analysts' expectations of ($1.30).

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 109,489 shares of the biopharmaceutical company's stock after purchasing an additional 4,176 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Insmed worth $8,364,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in INSM. Adage Capital Partners GP L.L.C. increased its stake in shares of Insmed by 109.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company's stock valued at $262,967,000 after purchasing an additional 1,799,382 shares in the last quarter. Nuveen LLC bought a new position in shares of Insmed during the first quarter valued at approximately $88,351,000. Duquesne Family Office LLC increased its stake in shares of Insmed by 130.7% during the first quarter. Duquesne Family Office LLC now owns 1,369,050 shares of the biopharmaceutical company's stock valued at $104,445,000 after purchasing an additional 775,580 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Insmed during the first quarter valued at approximately $37,214,000. Finally, Wellington Management Group LLP increased its stake in shares of Insmed by 62.5% during the first quarter. Wellington Management Group LLP now owns 1,222,627 shares of the biopharmaceutical company's stock valued at $93,274,000 after purchasing an additional 470,401 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INSM. Leerink Partners raised their target price on shares of Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Jefferies Financial Group raised their price target on shares of Insmed from $129.00 to $148.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Morgan Stanley raised their price target on shares of Insmed from $126.00 to $144.00 and gave the company an "equal weight" rating in a research report on Thursday, August 21st. Stifel Nicolaus raised their price target on shares of Insmed from $121.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada raised their price target on shares of Insmed from $108.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus price target of $139.86.

Insider Buying and Selling at Insmed

In other news, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $129.50, for a total transaction of $1,295,000.00. Following the transaction, the director owned 274,516 shares in the company, valued at $35,549,822. This trade represents a 3.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 24,272 shares of Insmed stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $143.89, for a total transaction of $3,492,498.08. Following the transaction, the insider owned 54,902 shares in the company, valued at approximately $7,899,848.78. This trade represents a 30.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 248,577 shares of company stock worth $27,137,914. Insiders own 3.00% of the company's stock.

Insmed Stock Performance

Shares of Insmed stock traded down $3.64 on Monday, hitting $142.29. 668,306 shares of the company's stock were exchanged, compared to its average volume of 2,757,323. The company has a 50-day simple moving average of $119.40 and a 200-day simple moving average of $92.09. The stock has a market capitalization of $30.08 billion, a PE ratio of -24.87 and a beta of 0.97. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $149.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The business had revenue of $107.42 million for the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative return on equity of 195.37% and a negative net margin of 259.82%.The company's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.